Hungary will buy the country’s 10th largest lending bank, GE Capital’s unit Budapest Bank, according to anonymous sources cited by Reuters. The news agency claims that the move is part of an ongoing drive by the government to increase the state’s influence over key areas of the economy. Budapest Bank officials refused to comment on the report, as did members of the Hungarian government. Budapest Bank made a HUF 8.7bn profit in 2013, with Reuters remarking that this makes it one of the few profitable banks in the country. The financial sector has been hit by unforeseen costs, as the government imposed fines and special charges, including a recent decision to force bank payments to their customers who took out foreign currency loans.
